Abraxis to Present Phase I/II Pancreatic Survival Data at 101st Annual Meeting of the American Association for Cancer Research

Los Angeles, CA | Posted on April 9th, 2010

Abraxis BioScience, Inc. (NASDAQ: ABII), a fully integrated biotechnology company, announced that the updated survival findings from a Phase I/II clinical trial evaluating the chemotherapy agent ABRAXANE® for Injectable Suspension (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) in combination with gemcitabine for first-line treatment of patients with metastatic pancreatic cancer will be discussed during a keynote address on April 20 at the 101st Annual Meeting of the American Association for Cancer Research (AACR) being held in Washington, D.C. The updated survival data points follow our interim data from the Phase I/II pancreatic clinical trial presented at the 45th Annual Meeting of the American Society of Clinical Oncology. This trial data will be locked shortly, and the resulting protocols have been employed for an ongoing Phase III trial currently enrolling patients.

Pancreatic cancer can be particularly hard to treat because many patients are diagnosed after their disease has progressed. This year, more than 42,000 people are estimated to be diagnosed with pancreatic cancer in the United States and approximately 35,000 people will die from the disease.i Recent research indicates that a an exceptionally dense stroma around pancreatic tumors contributes to treatment difficulty, and that delivery systems that can break through this surrounding mass may deliver more drug to the cells and improve outcome.ii

ABRAXANE is currently approved for the treatment of breast cancer after failure of combination chemotherapy for metastatic disease or relapse within six months of adjuvant chemotherapy. Prior therapy should have included an anthracycline unless clinically contraindicated. ABRAXANE has also been granted orphan drug designation by the Food and Drug Administration for the treatment of pancreatic cancer as well as stage IIB-IV melanoma.

About Abraxis BioScienceAbraxis BioScience is a fully integrated global biotechnology company dedicated to the discovery, development and delivery of next-generation therapeutics and core technologies that offer patients safer and more effective treatments for cancer and other critical illnesses. The company's portfolio includes chemotherapeutic compound (ABRAXANE®), which is based on the company's proprietary tumor targeting technology known as the nab® platform. The first FDA approved product to use this nab® platform, ABRAXANE, was launched in 2005 for the treatment of metastatic breast cancer and is now approved in 39 countries. The company continues to expand the nab® platform through a robust clinical program and deep product pipeline. Abraxis trades on the NASDAQ Global Market under the symbol ABII.

About ABRAXANE®ABRAXANE is a solvent-free chemotherapy treatment option for metastatic breast cancer which was developed using Abraxis BioScience's proprietary nab® technology platform. This protein-bound chemotherapy agent combines paclitaxel with albumin, a naturally-occurring human protein. By wrapping the albumin around the active drug, ABRAXANE can be administered to patients at higher doses, delivering higher concentrations of paclitaxel to the tumor site than solvent-based paclitaxel. ABRAXANE is currently in various stages of investigation for the treatment of the following cancers: expanded applications for metastatic breast, non-small cell lung, malignant melanoma, pancreatic and gastric.

The U.S. Food and Drug Administration approved ABRAXANE for Injectable Suspension (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) in January 2005 for the treatment of breast cancer after failure of combination chemotherapy for metastatic disease or relapse within six months of adjuvant chemotherapy. Prior therapy should have included an anthracycline unless clinically contraindicated. For the full prescribing information for ABRAXANE please visit www.abraxane.com.